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IRIS launches with six pairs on Ethereum mainnet. More will be added.

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Pairs

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Venues

Every pair runs on Aave V3. Three of them also run on Morpho Blue, on one specific market each. Aave V3. Risk parameters are set per asset, so a pair maps to one configuration. Morpho Blue. A pair is not a single market. Each Morpho market is its own combination of collateral, loan asset, oracle and liquidation LTV, and several can exist for the same pair. IRIS uses one specific market per pair: LLTV is the venue’s liquidation threshold, not an IRIS parameter. At 86%, a position is liquidatable once the debt reaches 86% of the collateral value under that market’s oracle.

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Choosing between them

Venue is the last term you set, so IRIS already knows your pair by then. The step offers only the venues that pair runs on. Pick cbBTC/USDT and Aave V3 is the only option, so there is nothing to choose. Where both are available, allowing both gives the solver more room and can produce a better rate. Allowing one gives you a position that stays where you expect. The solver picks from the set you allow when it quotes you, and can move the position between them later while the loan runs. See Borrowing. Everything about your collateral comes from whichever venue currently holds the position: the liquidation threshold, the penalty charged when you cross it, how much collateral is taken, and the oracle your collateral is priced against. Those differ between Aave and Morpho, and between Morpho markets. See Venue liquidations. The app is the current source of truth. If a pair appears there and not here, the app is right.